Intel Plans $5 Billion Factory In Arizona

Chip giant Intel said today that it is planning to build a new, $5 billion factory in Chandler, Arizona, as well as plans to hire 4,000 new employees in the U.S. this year. The announcement, made by Intel CEo Paul Otellini, was made during a visit of President Barack Obama to one of Intel's facilities in Oregon. Intel said the new plant will produce future microprocessors, and will be designated Fab 42. Intel said the new plant will be the "most advanced high-volume semiconductor manufacturing facility in the world". Intel already has over 9,700 employees in Arizona, where it has been since 1979.